Kaman acquisition of Minarik expands motion control, maintenance link
Company seen as "great strategic fit" for Kaman
Kaman Industrial Technologies acquisition of Minarik Corporation will help Kaman take a deeper dive into the relationship between motion control and maintenance efficiency.
The deal, which closed in May, puts Minarik’s process and motion control technology into Kaman’s Industrial Distribution Segment. “The acquisition of Minarik will allow us to better serve our customers in their quest to increase productivity, better control their processes, and reduce operating costs, said Kaman Industrial Technologies president Jack Cahill. “The acquisition will result in better levels of support for motion control product customers throughout North America. The combination also more effectively balances our business between OEM and MRO markets.”
“The acquisition provides Minarik with an outstanding opportunity to continue the expansion that we have experienced over the last ten years. KIT will help open up additional markets and customers to Minarik and Minarik will bring a high level of motion control expertise to KIT”, said Minarik prsidet John Hegel. “With Kaman’s financial strength Minarik can enhance its national motion control footprint more quickly into key geographic areas and industry segments”.
“Minarik is a great strategic fit for Kaman, increasing our geographic footprint and served market,” said Kaman Corporation chairman and CEO Neal J. Keating. “It also increases our scale allowing us to further leverage our existing infrastructure. It will provide a complementary platform upon which we can significantly expand our product breadth.”
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2012 Salary Survey
In a year when manufacturing continued to lead the economic rebound, it makes sense that plant manager bonuses rebounded. Plant Engineering’s annual Salary Survey shows both wages and bonuses rose in 2012 after a retreat the year before.
Average salary across all job titles for plant floor management rose 3.5% to $95,446, and bonus compensation jumped to $15,162, a 4.2% increase from the 2010 level and double the 2011 total, which showed a sharp drop in bonus.